What the PNC Secured Credit Card Is
The PNC Secured Credit Card is a credit-building product from PNC Bank that requires you to put down a cash deposit as collateral. The deposit amount becomes your credit limit — if you deposit $500, your limit is $500. You use the card like a regular credit card, and your payment history gets reported to the three major credit bureaus (Equifax, Experian, and TransUnion), which helps build your credit score over time.
PNC offers this card to people who are new to credit, rebuilding after past problems, or who don't yet have a credit history that qualifies them for an unsecured card. The deposit stays in a separate account and earns a small amount of interest while you hold the card.
Key Takeaways
- You must deposit between $500 and $25,000 in a savings account; that amount becomes your credit limit.
- The card reports to all three credit bureaus, so on-time payments directly build your credit score.
- PNC charges an annual fee (the exact amount varies by account type and current offers), plus standard interest on any balance you carry.
- After 18 months of on-time payments, you may be considered for conversion to an unsecured card, at which point your deposit is returned.
- You need to be a PNC customer or open a PNC checking account to get this card.
How Much You Need to Deposit and What It Costs
The minimum deposit is $500 and the maximum is $25,000. Your deposit amount sets your credit limit directly — there is no separate underwriting process to determine a higher limit. The deposit earns interest while it sits in the collateral savings account, though the rate is modest and varies with market conditions.
PNC charges an annual fee for this card. The exact fee depends on which PNC checking account you have and current promotional offers, so the amount can change. You will also pay a standard purchase APR (annual percentage rate) if you carry a balance month to month. Like any credit card, you avoid interest charges by paying your full statement balance by the due date each month.
There are no foreign transaction fees, and PNC does not charge late fees or over-limit fees — though a late payment will still hurt your credit score and may trigger a higher APR.
Who Can Get This Card
You must be at least 18 years old and a U.S. resident with a valid Social Security number. You do not need an existing credit history or a high credit score — that is the whole point of a secured card. However, you do need to be a PNC customer or willing to open a PNC checking account, because PNC requires the collateral deposit to be held in a PNC savings account.
PNC will review your banking history with them (if you have one) and may check ChexSystems, which is a banking history report system. A poor banking history — such as unpaid overdrafts or closed accounts due to fraud — can disqualify you, even if your credit score is blank.
How to Open the Account
Start by visiting PNC's website or calling 1-800-PNC-BANK (1-800-762-2265) to confirm current terms and deposit requirements. If you are not already a PNC customer, you will need to open a checking account first; you can do this online or at a branch.
Once your checking account is open, you can request the secured credit card. You will provide the deposit amount you want (between $500 and $25,000), and PNC will move that money from your checking account into a collateral savings account. The card itself typically arrives within 7 to 10 business days.
Keep in mind that the deposit is not a one-time fee — it is your own money held as security. You cannot withdraw it while the card is active, but you will get it back if you close the account or if PNC converts your card to unsecured.
Building Credit and Moving to an Unsecured Card
The main reason to use this card is to build credit history. Every payment you make — on time or late — gets reported to Equifax, Experian, and TransUnion. On-time payments over several months will gradually raise your credit score, assuming you have no other negative marks on your report.
After 18 months of on-time payments, PNC may review your account for conversion to an unsecured card. Conversion is not automatic; PNC looks at your payment history and current creditworthiness. If approved, your deposit is returned to you, and you keep the card with a new credit limit set by PNC (usually higher than your original deposit). If you are not approved at 18 months, you can ask again later or continue building credit with the secured card.
To maximize your chances of conversion, pay on time every month, keep your balance low (ideally under 30% of your limit), and do not explore for many other cards or loans in a short period. Each process creates a hard inquiry on your credit report, which can temporarily lower your score.
Comparing PNC to Other Secured Cards
Other banks offer secured cards with different terms. Some have lower annual fees, lower minimum deposits, or higher interest rates. Some report to all three bureaus; others report to only one or two. Some convert to unsecured cards faster or with less stringent requirements.
Before choosing PNC, compare the annual fee, APR, minimum deposit, and conversion timeline to cards from Capital One, Discover, or other issuers. Also check whether you already bank with PNC — if you do, the process is simpler and you may get a better rate. If you do not bank with PNC, opening an account just for the deposit may not be worth the hassle unless PNC's terms are significantly better than competitors.
What Happens If You Miss a Payment
A missed payment will be reported to the credit bureaus and will damage your credit score. PNC may also increase your APR as a penalty. Unlike some cards, PNC does not charge a late fee, but the credit damage is the real cost.
If you fall behind on payments, contact PNC as soon as possible. Explain your situation and ask whether they offer a hardship program or payment plan. Catching up quickly — even if you cannot pay the full amount — is better than letting the account go to collections, which would hurt your credit for years.
Frequently Asked Questions
Can I use the deposit as my credit limit, or is it separate?
The deposit is your credit limit. If you deposit $1,000, you can charge up to $1,000 on the card. The deposit itself stays in a collateral account and earns interest; you cannot touch it while the card is active.
What if I want to increase my credit limit?
You can increase your credit limit by adding more money to the collateral account. Contact PNC and tell them how much you want to deposit. The new total becomes your new limit. You cannot increase your limit without increasing your deposit.
How long does it take to build credit with this card?
Credit scores can start improving within 30 to 60 days of on-time payments, but meaningful improvement usually takes several months. Most people see a noticeable increase after 6 to 12 months of consistent, on-time use.
What happens to my deposit if I close the card?
When you close the account, PNC returns your deposit to your checking account within a few business days. If the card was converted to unsecured before you closed it, the deposit was already returned at conversion.
Do I need good credit to get approved?
No. The whole point of a secured card is that you do not need good credit. You need a valid ID, a Social Security number, and a clean banking history with PNC or willingness to open an account. Your credit score does not disqualify you.